i have been in both mortgage and stock brokerage and the amount of regualtion and education between the two is night and day.
To become a securities dealer you need to pass the Series 7 - a 6 hr test that requires months of prep. To become a loan officer in most states you just need to fill out an app. and pay a fee. In some states you dont need to get licensed at all you just need to be affiliated with a broker.
Slowly states are adding testing and background checks- but their needs to be a federal mandate. Since the fed is bailing everyone out, they should get to call the shots.
If you are curious as to what the laws are in your state regarding mortgage- here is a concise list: http://www.bankapedia.com/mortgage-encyclopedia/state-mortgage-laws
charlyb
of NV
@
Aug 31, 2009 19:05:54 PM
atipex phentermine
JAO583 I bookmarked this link. Thank you for good job!
atipex phentermine
of TX
@
Aug 02, 2009 19:38:09 PM
no rx adipex sales
MHUQwf Excellent site. It was pleasant to me.
no rx adipex sales
of RI
@
Aug 02, 2009 05:43:17 AM
We found the secret to Loan modification. It’s ModByLawyers of Anaheim California
Mary of Victorville,California went to ModByLawyers with an Chase mortgage of 11.8% and a mortgage payment of $1,945. Due to her disability and being unable to work she could not continue to make her mortgage payments. With the help of ModByLawyers staff at ModByLawyers Mary was able to obtain a new payment of $957 per month with a lower rate of 4.0%. This modification saved her home. Get more information at www.ModBylawyers.com
Grace Lynn
of CA
@
Jul 31, 2009 02:24:17 AM
soundtracks
+1
soundtracks
of AL
@
Jul 17, 2009 07:14:10 AM
cialis
Great topic. Now i can say thank you
cialis
of AL
@
Jul 16, 2009 08:46:49 AM
ultram in urine test
If you have to do it, you might as well do it right.
ultram in urine test
of WY
@
Jul 02, 2009 17:33:38 PM
Your states mortgage laws
Most state laws are antiquated. Unfortunately it took the economic disaster of the last few yrs to force some change.
States are slowing catching up to where they should have been 20 yrs ago
For those wondering what the laws in your state are
I just received a summons today from my HOA to foreclose on my townhouse. I was only recently able to get my home out of foreclosure with the mortgage company by changing the terms of my mortgage. I was never given any type of notice by the HOA that this was going to happen (not so much as even a late notice), and I don't even know who is managing the HOA now since a new company took over. I plan to sue them for failure to notify of a lien filing, and to file every motion I can possibly think of to delay the process. I find it hard to believe that the mortgage companies allow them to get away with this, since nearly half of all the owners in this complex are behind (or so the former HOA manager said).
Sherry
of CO
@
Mar 22, 2009 00:28:24 AM
HOA
I agree with IC on the HOA and their overall attitude and lack of service. I lived in Texas when laws were supposedly changed to govern the HOA's and what they did as a group to homeowners. I guess the laws did not work. I now live in MD, and my story is identical to IC's. After going through the process of saving my home, not even 30 days after the judge signed my paperwork, I received "notice of lien" from the HOA and "lawyer" for the community. An investigation on what happens "after" you save your home from foreclosure needs to be done. I have not been able to enjoy living in my "saved" home yet, because I am paying back the fees upon fees. Mr. Luke Mullins, help people like us get the word out. We need a voice and help.
charlyb of NV @ Aug 31, 2009 19:05:54 PM
atipex phentermine of TX @ Aug 02, 2009 19:38:09 PM
no rx adipex sales of RI @ Aug 02, 2009 05:43:17 AM
Grace Lynn of CA @ Jul 31, 2009 02:24:17 AM
soundtracks of AL @ Jul 17, 2009 07:14:10 AM
cialis of AL @ Jul 16, 2009 08:46:49 AM
ultram in urine test of WY @ Jul 02, 2009 17:33:38 PM
raelene of NV @ Jun 20, 2009 15:40:07 PM
Sherry of CO @ Mar 22, 2009 00:28:24 AM
Carol Terry of MD @ Mar 04, 2009 16:32:56 PM
Back to blog